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What Can DCU Save You?

Member Described Account

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Member described savings account

Member Described Savings Account

  • Savings account with your own custom name
  • Competitive dividend rates
  • $0 to open and $100 minimum balance to earn dividends
  • Free online, mobile, and branch access
  • Federally insured by NCUA

Please refer to Details and Rates tabs for additional information and important disclosures.


Open quote DCU's customer service is excellent. They offer excellent products and at very affordable prices. Close quote

— KK, Riverside, RI

Member Described Savings Account Details

  • You choose the name of your saving account – You can set up multiple accounts and give them names to help you identify what each is for. The names will appear on your DCU account statements and in Online Banking so you can easily organize your savings goals. You might name one Vacation for that upcoming trip of a lifetime or Wheels for the down payment on your next new car.
  • Competitive dividend rates – Compare DCU's Member-Described Account to bank statement savings accounts. Your dividends are compounded daily and paid monthly each day your balance is $100.00 or more.
  • $0 to open and $100 minimum balance to earn dividends – There are no monthly fees.
  • Free online, mobile, and branch access – You can access your account 24 hours a day using any DCU ATM, Online Banking, and Easy Touch Telephone Teller. You can access your account in any DCU branch and make deposits online anytime with a scanner or camera in your smart phone by Online Deposit.
  • Federally insured by NCUALearn more about insurance on all your savings at DCU and how to maximize your coverage.

*Federal Reserve Regulation D limits total phone or Online Banking transfers or withdrawals from all savings accounts into your checking account to six per month. Loan payment transfers, teller counter transactions, ATM transactions, deposits, and transfers into your account are unlimited.

Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from day of deposit to day of withdrawal, compounded daily and paid monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on this account. Refer to DCU's Truth-In-Savings Disclosure and Account Agreements and Schedule of Fees and Service Charges.

Please refer to Features and Rates tabs for more information.

Member Described Savings Accounts*

Minimum/Terms Dividend Rate Annual Percentage Yield
Earned on entire balance when $100 or more 0.25% 0.25%

Rates are effective .

*Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on these accounts. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges

Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate – including the effects of compounding. For example, the APY on a 6-Month Certificate would be what you earned at the end of a year if you renewed your certificate once, did not add to or subtract from the balance along the way, nor withdrew any dividends.

Please refer to Features and Details tabs for more information.

Member Described Account is rated 4.8 out of 5 by 290.
Rated 5 out of 5 by from Staff and service The staff and service at the Fitchburg DCU are grea. They are friendly and helpful.
Date published: 2018-07-04
Rated 5 out of 5 by from One Stop Shopping For Banking Needs DCU provides exceptional value with service and products that offer a comprehensive banking solution. From Savings and free checking to advice and guidance with loans and investments, DCU is a single source of financial management resources and guidance. I use both the online branch application and the walk-in teller branch offices that gives me the high touch needed for complex transactions and convenience of online access for day-to-day activities. I appreciate and value both options. VISA Rewards points have funded multiple vacations over the years and the cash back offer during the Christmas season is a welcome holiday gift. With all of this, why would I go anywhere else?
Date published: 2018-06-10
Rated 5 out of 5 by from Great product Would like the interface to create a new share, easier to use. Also, what is this extra info below the review? Why do you want a nickname. etc ?
Date published: 2018-05-20
Rated 5 out of 5 by from easy to set up low interest rate,you do not have to give up your saved money
Date published: 2018-05-12
Rated 5 out of 5 by from I fell very especial and kind thanks The product are interested and convenient excellent personal attention
Date published: 2018-04-28
Rated 5 out of 5 by from Besk bank ever! DCU is the best banking product I've ever been involved with. Customer service is truly that - providing service to customers in a professional courteous manner.I cam see their smile through the phone! And the ability to easily and quickly accomplish my financials tasks and goals.
Date published: 2018-04-28
Rated 5 out of 5 by from A Good Honest Credit Union Have always had positive and transparent interactions with this bank. All of their staff is always professional and courteous. Cant recommend them more highly. I'd recommend considering this bank and the services they offer over others; it is truly a breath of fresh air dealing with DCU vs. my past banks.
Date published: 2018-04-07
Rated 5 out of 5 by from Excellent This product will greatly help me build my credit and give me a fresh new start
Date published: 2018-04-01
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Member described savings

How can I change the name of my member described savings account?
Asked by: Mary
Login, open the Account Manager either from the top green house area, or just from the menu choice. Once in there, look for Account Information Once you see all your accounts listed, there will be a little pencil icon which puts you into edit mode. If you have trouble, login then open the Live Chat to ask for help. Usually the wait time is tolerable.
Answered by: Clover
Date published: 2017-12-23

How to delete or close a member described account ?

Asked by: SS
dont know go to customer service
Answered by: skikg
Date published: 2018-05-12

can i set-up direct deposit to member described account?

i am told by th some reps that direct deposit cannot be set-up for these accounts.
Asked by: memberSinceLong
I believe that you can deposit in any of the check/savings accounts
Answered by: Arthur
Date published: 2018-04-28

Will I get a separate ATM card if I open a new Member described account? If not, how do I request for one?

Asked by: Ann
No. Your member described account is not a whole new account. It's just a new savings account all under the same member number. You don't need a new ATM card; you should still be able to access the account with the existing ATM card.
Answered by: Boscoseven
Date published: 2014-04-19

Are there monthly fees on a member described account, if a certain balance isn't maintained?

Asked by: Autumn
Answered by: skikg
Date published: 2018-05-12
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"Simple, fast and easy"

Open quote Opening an account was so easy and it took almost no time at all. Keeping track of my account is simple with online access as well as with the nearby branches and ATMs. Close quote

— KP09, Leominster, MA

Easy Ways To Open a Member Described Account

  1. Open Online – Opening a DCU Member Described Account is fast and convenient! Follow the simple step-by-step instructions and open your account in minutes online.
  2. By Phone – Call 800.328.8797 or 508.263.6700, (select 3).
  3. Visit a DCU Branch – Visit a local branch and open a DCU Member Described account. A Member Service Representative will assist you and be able to answer all your questions.

"I'm loving my savings account!"

Open quote Easy to open, friendly service. I'm happy I made the switch to DCU. Close quote

— MOMOF2BOYZ, Bedford, NH

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